Continental Investors Services Inc. Makes New $344,000 Investment in Regal Rexnord Co. (NYSE:RRX)

Continental Investors Services Inc. bought a new position in shares of Regal Rexnord Co. (NYSE:RRX – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,560 shares of the company’s stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. lifted its position in Regal Rexnord by 1.2% during the 2nd quarter. Baird Financial Group Inc. now owns 7,269 shares of the company’s stock worth $825,000 after acquiring an additional 85 shares during the last quarter. CWM LLC raised its position in shares of Regal Rexnord by 39.1% during the third quarter. CWM LLC now owns 313 shares of the company’s stock valued at $44,000 after buying an additional 88 shares during the last quarter. Toroso Investments LLC raised its position in shares of Regal Rexnord by 5.5% during the third quarter. Toroso Investments LLC now owns 1,883 shares of the company’s stock valued at $264,000 after buying an additional 98 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Regal Rexnord by 15.4% during the second quarter. Quadrant Capital Group LLC now owns 742 shares of the company’s stock valued at $84,000 after buying an additional 99 shares during the last quarter. Finally, Utah Retirement Systems raised its position in shares of Regal Rexnord by 0.8% during the third quarter. Utah Retirement Systems now owns 12,060 shares of the company’s stock valued at $1,692,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 99.98% of the company’s stock.

Regal Rexnord Stock Performance

NYSE RRX opened at $137.19 on Friday. The stock has a market cap of $9.09 billion, a P/E ratio of 18.79, a PEG ratio of 1.33 and a beta of 1.08. The company’s 50-day simple moving average is $147.95 and its 200 day simple moving average is $138.15. Regal Rexnord Co. has a twelve month low of $108.28 and a twelve month high of $164.15. The company has a quick ratio of 1.66, a current ratio of 2.99 and a debt-to-equity ratio of 0.31.

Regal Rexnord (NYSE:RRX – Get Rating) last posted its earnings results on Wednesday, February 1st. The company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.34. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Regal Rexnord had a net margin of 9.37% and a return on equity of 11.36%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.14 earnings per share. As a group, research analysts forecast that Regal Rexnord Co. will post 10.52 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.40 annualized dividend and a yield of 1.02%. Regal Rexnord’s dividend payout ratio is 19.18%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays upped their price objective on shares of Regal Rexnord from $148.00 to $185.00 in a research report on Sunday, February 5th. Robert W. Baird upped their price objective on shares of Regal Rexnord from $167.00 to $188.00 in a research report on Friday, February 3rd. StockNews.com assumed coverage on shares of Regal Rexnord in a research report on Thursday. They set a “buy” rating for the company. Wolfe Research lowered shares of Regal Rexnord from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 1st. Finally, Oppenheimer upped their target price on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.80.

Regal Rexnord Profile

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Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.